The following is an excerpt from IAN ALLISON | July 12, 2017 | Newsweek.com |

Numerai is a hedge fund with big ideas and even bigger ambitions: using crowd-sourced machine intelligence to transform the way money is managed. Crowd-sourced investment strategies are many and varied, but Numerai has a novel way of applying technology.

The fund supplies its network of data scientists with encrypted data that allow them to test their machine learning models, thereby removing any bias attached to the application of algorithms.

These models are entered into a monthly tournament and the best ones receive a pay-out. This was previously done using Bitcoin (because it was efficient and more anonymous than PayPal), but more recently Numerai launched its own token, Numeraire (NMR), on Ethereum, the public blockchain which has spawned a multitude of trustless, decentralized applications.

The aim of the token was to create more value for Numerai's growing network of scientists, and further align them with the collaborative goals of the project. NMR tokens were not sold like a typical initial coin offering, but rather 1.2 million of the tokens (a cap of 21m has been stated) were distributed via smart contracts on Ethereum, only to participating data scientists.

About Us!

Welcome to Opportunist Magazine Opportunist Magazine is intended to be a valuable resource of information for investors, the financial community and small businesses. It's content focuses on economics, finance, and a dash of politics.

We encourage our readers to submit their own articles to our editorial staff for review and possible publication. Our editors seek articles that are thought provoking, informative, educational ― and that will elicit comments and opinions from our readers. We are not opposed to controversial articles.